Pentair’s (PNR) Sector Weight Rating Reiterated at KeyCorp

KeyCorp restated their sector weight rating on shares of Pentair (NYSE:PNR) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has a $115.00 target price on the industrial products company’s stock. KeyCorp also issued estimates for Pentair’s Q4 2024 earnings at $1.01 EPS.

A number of other research firms also recently issued reports on PNR. TD Cowen raised their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Oppenheimer lifted their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group raised their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.38.

Pentair Stock Up 0.7 %

Pentair stock opened at $99.41 on Monday. The company has a market cap of $16.43 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. Pentair has a 1-year low of $68.69 and a 1-year high of $110.71. The company has a fifty day simple moving average of $104.41 and a 200 day simple moving average of $93.66. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the company earned $0.94 EPS. The company’s revenue was down 1.5% on a year-over-year basis. Research analysts anticipate that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. Pentair’s dividend payout ratio is presently 25.00%.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Trading of Pentair

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position in Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after buying an additional 259,922 shares during the period. FMR LLC raised its holdings in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Geode Capital Management LLC lifted its stake in Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares during the last quarter. Millennium Management LLC increased its position in shares of Pentair by 0.7% during the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after purchasing an additional 20,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after buying an additional 53,787 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.